Needham & Company LLC Begins Coverage on Ceridian HCM (CDAY)

Needham & Company LLC assumed coverage on shares of Ceridian HCM (NYSE:CDAY) in a research report released on Thursday, January 3rd, MarketBeat Ratings reports. The firm issued a buy rating and a $40.00 price objective on the stock.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Ceridian HCM from a hold rating to a sell rating in a research report on Wednesday, October 10th. Credit Suisse Group began coverage on Ceridian HCM in a research report on Friday, October 5th. They set a neutral rating and a $45.00 target price on the stock. Canaccord Genuity reiterated a hold rating and set a $36.00 target price on shares of Ceridian HCM in a research report on Monday, October 29th. Deutsche Bank increased their target price on Ceridian HCM from $40.00 to $42.00 and gave the stock a hold rating in a research report on Tuesday, October 9th. Finally, Barclays increased their target price on Ceridian HCM from $35.00 to $36.00 and gave the stock an equal weight rating in a research report on Friday, September 7th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $39.87.

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Shares of NYSE:CDAY opened at $35.95 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. Ceridian HCM has a 52-week low of $28.65 and a 52-week high of $44.98.

Ceridian HCM (NYSE:CDAY) last issued its quarterly earnings data on Monday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. Ceridian HCM had a positive return on equity of 2.64% and a negative net margin of 2.25%. The business had revenue of $179.60 million for the quarter, compared to the consensus estimate of $176.29 million. Ceridian HCM’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts anticipate that Ceridian HCM will post -0.09 earnings per share for the current year.

In other Ceridian HCM news, Director Cannae Holdings, Inc. sold 4,396,694 shares of the company’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $34.70, for a total transaction of $152,565,281.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Arthur Gitajn sold 135,755 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $36.18, for a total value of $4,911,615.90. The disclosure for this sale can be found here. Insiders have sold 5,181,103 shares of company stock valued at $182,511,844 over the last 90 days.

Several hedge funds have recently bought and sold shares of the company. TIAA CREF Investment Management LLC grew its stake in shares of Ceridian HCM by 0.7% in the third quarter. TIAA CREF Investment Management LLC now owns 53,377 shares of the company’s stock valued at $2,243,000 after buying an additional 345 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Ceridian HCM by 49.7% in the fourth quarter. State of Alaska Department of Revenue now owns 4,329 shares of the company’s stock valued at $149,000 after buying an additional 1,437 shares in the last quarter. Voya Investment Management LLC acquired a new stake in shares of Ceridian HCM in the second quarter valued at about $247,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Ceridian HCM in the second quarter valued at about $286,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Ceridian HCM in the second quarter valued at about $332,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Ceridian HCM Company Profile

Ceridian HCM Holding Inc operates as a human capital management (HCM) software company worldwide. The company offers Dayforce, a cloud HCM platform that address various areas of HCM, including human resources (HR), payroll, benefits, workforce management, and talent management functionality. It also provides Powerpay, a cloud platform, which offers scalable and straightforward payroll and HR solutions; Bureau solutions for payroll and payroll-related services; and LifeWorks, an employee engagement platform that delivers employee assistance programs, social recognition, perks and discounts, a private social network, employee and corporate wellness programs, and employee engagement analytics.